Precious metals forcast from the desk of Dick Young:
The Supply-Demand Equation
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Demand for gold has increased by almost 940% in the last year—just in the U.S. Did you know that?
The rush to gold is driven by several factors, Americans have less confidence than at any recent time in their banks, according to a June Gallup Poll. Even bankers don’t trust each other, which is why they refuse to make even overnight loans. So why should you trust them?
Demand for gold, especially in the form of American Eagle coins, grew 800% in a matter of days. So great has demand been, sales are now SUSPENDED. In Vietnam, where confidence in paper money is nil, demand for gold doubled in just 6 months. In Canada, the Royal Mint has run out of gold. And in Asia, 3 billion people emerging into a new middle class, are putting their wealth on their fingers, not in their bank accounts........Get you some!
Monday, March 30, 2009
A lofty predicition for gold?
How Gold Could Soar to $5,000 an Ounce - or More?
The last time the economy was this bad - during the Depression - the Dow sank to 36 and gold rose to $36 - a 1-to-1 ratio. In 1980, after the huge stock downturn of the ' 70s, the Dow and gold met at 850. Today the Dow is rapidly falling, down 50% from its peak of 14,164 set in October 2007. Gold is soaring once again, retesting historic highs. If they meet somewhere in the middle, that point could very well be 5,000, according to legendary bear market analyst and millionaire investor Peter Schiff (the man who accurately called the last 4 major market corrections) . Indeed, he sees the 1-to-1 ratio returning again, and soon.
The last time the economy was this bad - during the Depression - the Dow sank to 36 and gold rose to $36 - a 1-to-1 ratio. In 1980, after the huge stock downturn of the ' 70s, the Dow and gold met at 850. Today the Dow is rapidly falling, down 50% from its peak of 14,164 set in October 2007. Gold is soaring once again, retesting historic highs. If they meet somewhere in the middle, that point could very well be 5,000, according to legendary bear market analyst and millionaire investor Peter Schiff (the man who accurately called the last 4 major market corrections) . Indeed, he sees the 1-to-1 ratio returning again, and soon.
Thursday, March 26, 2009
The Fifth and 14th Amendements of the Constitution
Can the Government legally take your property? No, unless they continue to trash the Constitution of the United States. This from a legal standpoint:
The last phrase of the Fifth Amendment to the U.S. Constitution, known as the takings clause, reads: “nor shall private property be taken for public use, without just compensation.” Its potential application to a significant chunk of the economic recovery programs is straightforward. A facial reading of the above text suggests the U.S. federal government (and state equivalents, similarly bound through the Fourteenth Amendment) cannot unilaterally restructure the contractual obligations of a given entity, summarily dismiss its outstanding debts, or even choose to pay some arbitrary fraction of these while waiving the rest. Curiously, however, there has been precious little commentary on just this point. Laurence H. Tribe, a professor at Harvard Law School, summarily dismissed the issue when evaluating the legality of a 90% tax on bonuses in his email to the Atlantic. Mayer, Morrison, and Piskorski gave it a bit more coverage in their mortgage modification proposal, but still seemed to be glossing over the main point by citing to a recent Supreme Court case that dismissed a very loose standard for takings jurisprudence without explicitly stating whether a taking took place.
The last phrase of the Fifth Amendment to the U.S. Constitution, known as the takings clause, reads: “nor shall private property be taken for public use, without just compensation.” Its potential application to a significant chunk of the economic recovery programs is straightforward. A facial reading of the above text suggests the U.S. federal government (and state equivalents, similarly bound through the Fourteenth Amendment) cannot unilaterally restructure the contractual obligations of a given entity, summarily dismiss its outstanding debts, or even choose to pay some arbitrary fraction of these while waiving the rest. Curiously, however, there has been precious little commentary on just this point. Laurence H. Tribe, a professor at Harvard Law School, summarily dismissed the issue when evaluating the legality of a 90% tax on bonuses in his email to the Atlantic. Mayer, Morrison, and Piskorski gave it a bit more coverage in their mortgage modification proposal, but still seemed to be glossing over the main point by citing to a recent Supreme Court case that dismissed a very loose standard for takings jurisprudence without explicitly stating whether a taking took place.
Wednesday, March 25, 2009
Lincoln Commemorative Silver Dollar
Took delivery of the 2009 Abraham Lincolin Commemorative silver proof coin. It is a beauty, only minting 500,000 of them. A little pricey at around $42.00 but it is a collectors dream!
Mint set a limit of 500,000 which is sold our. Visit learn more here http://www.squidoo.com/Commemorative-Silver-Dollar
Mint set a limit of 500,000 which is sold our. Visit learn more here http://www.squidoo.com/Commemorative-Silver-Dollar
Monday, March 23, 2009
Squidoo
Managed to post on Squiddo tonight: http://www.squidoo.com/Acquiring-Gold-and-Silver feel free to post a comment!
Bullion prices
Market commentary re: Bullion 3/21/09
BULLION
Gold closed lower due to profit taking on Friday as it consolidated some of this week's rally but remains above the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, February's high crossing is the next upside target. Closes below Wednesday's low crossing would renew the decline off February's high.
Silver closed higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, February's high crossing is the next upside target. Closes below Thursday's low crossing would confirm that a short-term top has been posted.
BULLION
Gold closed lower due to profit taking on Friday as it consolidated some of this week's rally but remains above the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, February's high crossing is the next upside target. Closes below Wednesday's low crossing would renew the decline off February's high.
Silver closed higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, February's high crossing is the next upside target. Closes below Thursday's low crossing would confirm that a short-term top has been posted.
Friday, March 20, 2009
From Senator William Roths Book "The Power to Destroy"
In our day we are seeing the net effects of taxing everything in sight...
When you tax a man’s income, his income goes down. The power to tax is the power to destroy.
When you tax a man’s income, you are taxing his employment. So unemployment rises and employment goes down. The power to tax is the power to destroy.
When you tax a man’s ability to work, he works less. True productivity goes down. The power to tax is the power to destroy.
When you tax a man’s work, you tax the chief source of his freedom. “Six days thou shalt labor...” The power to tax is the power to destroy.
You see, a government can tax all kinds of income for all kinds of reasons.
But not Liberty.
In our day we are seeing the net effects of taxing everything in sight...
When you tax a man’s income, his income goes down. The power to tax is the power to destroy.
When you tax a man’s income, you are taxing his employment. So unemployment rises and employment goes down. The power to tax is the power to destroy.
When you tax a man’s ability to work, he works less. True productivity goes down. The power to tax is the power to destroy.
When you tax a man’s work, you tax the chief source of his freedom. “Six days thou shalt labor...” The power to tax is the power to destroy.
You see, a government can tax all kinds of income for all kinds of reasons.
But not Liberty.
Wednesday, March 18, 2009
From my pal in Australia:
The hedge against these inflationary policies (including here in Australia) is to invest in assets priced in dollars which cannot be created by a printing press. That includes oil, precious metals, and other energy commodities. The nominal price of these assets should rise as the money supply rises.
The hedge against these inflationary policies (including here in Australia) is to invest in assets priced in dollars which cannot be created by a printing press. That includes oil, precious metals, and other energy commodities. The nominal price of these assets should rise as the money supply rises.
Tuesday, March 17, 2009
Northwest Territorial Mint
Rich said.......If you are looking to take possession of your precious metals and do not want to wait 8-12 weeks for delivery, then do not order from Northwest Territorial Mint, they are floating peoples money and not delevering. Avoid them!
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